“By the end of September, maximum beginning of October” the bond convertible into Camfin shares will be put on the market. He assured it Gaetano Miccichè, general manager of Intesa Sanpaolo and managing director of Banca Imi, on the sidelines of a conference on the food sector. However, the manager specified that the final word will rest with the board of directors of the holding company.
Cam Finanziaria operates in the equity investment sectors (it is the majority shareholder of Pirelli & C. with 25,62%), the distribution of petroleum products and real estate. Rumors have been circulating in recent weeks that indicated Intesa Sanpaolo and UniCredit such as the banks in charge of preparing the convertible bond.
The operation, necessary to restructure Camfin's debt, is the subject of a dispute between the shareholders of the holding company: on the one hand, the majority of the directors and the chairman Marco Tronchetti Provera (owner of Gpi – Gruppo Partecipazioni Industriali – which controls 42,65% of Camfin) are pushing for the convertible bond; on the other, the Malacalza family (second shareholder with 12,37%) argues that a capital increase would be preferable.
At the end of the morning, Camfin's share on the Stock Exchange was in the red by about two points.
